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Incoterms 2010
The Incoterms rules or International Commercial terms are a series of pre-defined
commercial terms published by the International Chamber of Commerce (ICC) widely
used in international commercial transactions
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FCA
Free Carrier (named place of delivery)
The seller hands over the goods, cleared for export,
into the disposal of the first carrier (named by the
buyer) at the named place.
The seller pays for carriage to the named point of
delivery, and risk passes when the goods are handed
over to the first carrier.
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CIF
Cost, Insurance and Freight (named port of
destination)
Exactly the same as CFR except that the seller
must in addition procure and pay for the
insurance. Maritime transport only.
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Conditionality of loans
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Structural adjustment
Further information: Structural adjustment
Some of the conditions for structural adjustment can include:
Cutting expenditures, also known as austerity.
Devaluation of currencies, Trade liberalisation, or lifting
import and export restrictions,
Increasing the stability of investment (by
supplementing foreign direct investment with the opening of
domestic stock markets),
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Technical Assistance
-Special drawing rights
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Most of the issues that the WTO focuses on derive from previous trade
negotiations, especially from the Uruguay Round (19861994).
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Objectives:
1. Raising standards of living.
2. Ensuring full employment and a large and steadily growing
volume of real income and effective demand.
3. Expansion of production and international trade.
4. Developing full use of the resources of the world.
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Full Form
GATT
WTO
Year of Creation
1948
1995
Purpose
Framework
Scope
Dispute
Resolution
Less powerful
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Organization Structure
-Top level decision making body is the ministerial
conference meets atleast once in 2 years.
-Below is the General Council Meeting
to
(Dispute settlement, trade policy review body , trade
negotiations committee.)
-Councils- goods council, services and intellectual
property council report to general council.
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Members
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Voting power
In 2010, voting powers at the World Bank were revised to
increase the voice of developing countries, notably China. The
countries with most voting power are now the United States
(15.85%), Japan (6.84%), China (4.42%), Germany (4.00%),
the United Kingdom (3.75%), France
(3.75%), India (2.91%), Russia (2.77%), Saudi Arabia (2.77%)
and Italy (2.64%).
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THANKS
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